Premium Brands (TSE:PBH) Price Target Cut to C$127.00 by Analysts at Ventum

Premium Brands (TSE:PBH) had its price objective decreased by Ventum from C$128.00 to C$127.00 in a report issued on Friday morning,BayStreet.CA reports. Ventum currently has a buy rating on the stock.

Several other research analysts have also commented on PBH. BMO Capital Markets lowered their price objective on shares of Premium Brands from C$118.00 to C$111.00 in a research note on Friday. Ventum Financial set a C$124.00 target price on shares of Premium Brands and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Canadian Imperial Bank of Commerce decreased their price target on shares of Premium Brands from C$115.00 to C$100.00 in a research report on Friday. Royal Bank Of Canada dropped their price target on shares of Premium Brands from C$131.00 to C$120.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Ventum Capital upped their price objective on Premium Brands from C$124.00 to C$128.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$116.25.

Premium Brands Trading Up 3.1%

Shares of TSE PBH opened at C$83.80 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.16 and a debt-to-equity ratio of 163.05. The stock has a market capitalization of C$4.36 billion, a PE ratio of 93.11, a PEG ratio of 1.10 and a beta of 0.90. Premium Brands has a twelve month low of C$80.24 and a twelve month high of C$106.79. The stock has a fifty day simple moving average of C$88.25 and a 200-day simple moving average of C$90.84.

Premium Brands (TSE:PBH) last posted its earnings results on Thursday, August 6th. The company reported C$1.53 earnings per share (EPS) for the quarter. The firm had revenue of C$2.38 billion for the quarter. Premium Brands had a return on equity of 2.21% and a net margin of 0.52%. On average, equities analysts forecast that Premium Brands will post 6.039823 earnings per share for the current year.

Key Headlines Impacting Premium Brands

Here are the key news stories impacting Premium Brands this week:

• Positive Sentiment: Premium Brands reported record second-quarter sales, adjusted EBITDA and adjusted earnings, and declared a third-quarter dividend. The company separately reported quarterly revenue of C$2.38 billion and EPS of C$1.53. Premium Brands second-quarter results
• Positive Sentiment: Several analysts retained constructive ratings following the results. ATB Cormark and TD maintained “outperform” or “buy” views with C$130 targets, while RBC kept an “outperform” rating and a C$120 target. Other retained positive ratings included Ventum, Desjardins and Stifel. Analyst rating changes
• Neutral Sentiment: Even after the revisions, the published targets imply approximately 16.9% to 55.1% potential upside from the reported C$83.84 share price, suggesting analysts still view the stock as undervalued if earnings growth and profitability improve.
• Negative Sentiment: Every listed analyst lowered its price target: Canaccord Genuity to C$117, National Bank to C$98, Scotia to C$105, BMO to C$111, ATB Cormark to C$130, Ventum to C$127, CIBC to C$100, RBC to C$120, TD to C$130, Desjardins to C$110 and Stifel to C$105. The widespread reductions signal more cautious expectations despite the remaining bullish ratings. Premium Brands analyst revisions

About Premium Brands

Premium Brands Holdings Corp is engaged in specialty food manufacturing, premium food distribution, and wholesale businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, and Washington State. The company’s business segments include Specialty Foods, Premium Food Distribution, and Corporate. The Specialty Foods segment consists of its specialty food manufacturing businesses, which contributes about two-thirds of the group revenue; the Premium Food Distribution segment consists of the company’s distribution and wholesale businesses; the Corporate segment includes the company’s head office activities along with its finance and information systems.